Grains Were Weaker to Unchanged in The Overnight
U.S. soybeans lost ground on Wednesday, giving up some of last session's gains
Grains were weaker to unchanged overnight with soybeans giving up nearly 6 cents and wheat down 3. Going into the morning pause in trading, corn was trying to hold onto a fractional gain. In outside markets, S&P futures were off sharply, losing almost 2% of their value while crude oil was...[Read More]
Soybeans Grind Higher Even With Rocky Exports
Grains Start the Week Higher
Outside markets were recovering overnight with oil trying to claw its way back to $30 a barrel
Grains were higher to start the week with solid advances by soybeans of 7 cents and corn and wheat were up 3 to 5. Outside markets were recovering overnight with oil trying to claw its way back to $30 a barrel and S&P futures posted a better than 12% advance.
Weekly Cash Comments
Weekly Cash Commentary for week ending 01/15/2016
Grain basis levels continued to remain flat this week even after the USDA report gave a spark to futures prices. Corn was up half a cent a bushel on average across the US while soybean basis was unchanged.
Grains Were Mixed Overnight as Soybeans Found Some Selling Pressure
Outside equity markets came under pressure overnight as crude oil fell below $30 a barrel.
Grains were mixed overnight as soybeans found some selling pressure, falling below $8.80, while corn and wheat had some modest gains in the overnights session. Outside equity markets came under pressure overnight as crude oil fell below $30 a barrel.
USDA Revisions Will Be Needed if This Pace Keeps Up
Wheat Leads the Downside in the Overnight
In outside markets, crude oil and equity futures posted modest gains.
Grains were lower overnight with wheat leading to the downside and soybeans only off 1 cent from yesterday’s settlement. In outside markets, crude oil and equity futures posted modest gains.
Why It’s Unlikely for Today’s Gains to Hold Ground
Following the short covering rally, Kevin looks at what it will take for the rally to keep going.
Yesterday’s USDA Data caused a Rally
Grains were tempered overnight following yesterday’s rally on new USDA data
Grains were tempered overnight following yesterday’s rally on new USDA data. Meanwhile, equity markets and crude oil pushed higher trying to form a bottom after the steep sell-off that started the year.
Overall, USDA’s fresh data was mostly neutral in terms of its content, but it...[Read More]